Regulations Governing Qualification Requirements and Concurrent Serving Restrictions and Matters for Compliance by the Responsible Persons of Banks Article 9

The director or supervisor of a bank should be of good moral character. If the number of directors and supervisors of a bank is less than five persons, at least two of the directors and supervisors shall meet one of the qualifications set out below. If the number of directors and supervisors of a bank exceeds five, at least one more of the directors and supervisors for each additional four directors and supervisors shall meet one of the qualifications set out below. If a bank has managing director(s), at least two of the managing directors shall meet one of the following qualifications:1. At least five (5) years of experience working in a bank(s) and having served in a position of vice president or higher or similar position in the head office of a bank(s) with good performance record;2. At least five (5) years of experience working in financial administration or management and having held the position of civil service recommended appointment grade 8 or higher or equivalent with good performance record;3. At least three (3) years of experience working in a bank(s) and having served in a position of manager in the head office or higher or in a similar position of a bank(s) with good performance record;4. Having other factual evidence to the possession of professional banking knowledge or banking management capability to effectively manage the banking business.A bank, if the total assets of the previous year as audited by a CPA have exceeded NT$ one trillion, shall have three of the directors and supervisors that meet one of the qualifications set out in the previous Paragraph when the number of the bank’s directors and supervisors is less than five person. If the number of directors and supervisors of a bank exceeds five, at least one more of the directors and supervisors for each additional three directors and supervisors shall meet one of the qualifications set out in the previous Paragraph. If a bank has managing director(s), at least three of the managing directors shall meet one of the qualifications set out in the previous Paragraph.The number of a bank’s directors, who are not government agencies, juristic persons or representatives thereof, that meet the qualifications set out in Paragraph 1, shall comply with the preceding two Paragraphs. When the total number of director exceeds thirteen, the number of directors that meets one of the qualifications set out in Paragraph 1 could be five.The preceding Paragraph does not apply to a bank that its shareholding is directly or indirectly 100 percent held by the government or a juristic person.The chairman of a bank shall have one of the qualifications provided in the Paragraph 1. A bank shall submit the qualification documents of its chairman as well as directors and supervisors who meet the qualification set out in Subparagraph 4 of Paragraph 1 to the competent authority for approval within ten (10) days of their election. The competent authority may order the bank to make adjustment within a prescribed period of time if the qualification of the chairman or any of the elected directors or supervisors is disapproved.Where a bank has question over the application of Subparagraph 4 of Paragraph 1 hereof to any of its directors or supervisors, the bank may seek the prior approval of the competent authority before electing the director or supervisor to the office.